From Financial Modeling Prep: 2025-03-05 03:01:36

Apple’s App Store revenue grew by 13% YoY in February, a slowdown from 18% in January, attributed to tough comparisons in U.S. and international markets. In the U.S., growth was 12%, down from 14% in January, while internationally, revenue expanded by 14%, a 600 basis point decline from January.

On an FX-neutral basis, February’s growth was 14.7% YoY, compared to 20.8% in January. Despite the slowdown, QTD App Store growth remains solid at around 15%, with an FX-neutral growth of 16.6%, mainly driven by a strong January performance.

UBS believes the QTD trend suggests potential upside for Apple’s Services segment, contributing 25% of revenue. Maintaining a $236 price target for Apple, UBS sees an attractive valuation due to lower equity risk premiums, reduced interest rates, and Apple’s share buyback program.

Investors can explore Financial Modeling Prep’s APIs for deeper insights into Apple’s performance, including Key Metrics (TTM) for valuation multiples and earnings performance, and Historical Earnings for a comprehensive view of Apple’s earnings trends over time. Apple’s consistent revenue growth remains a key driver of its long-term outlook despite the App Store’s February slowdown.



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